Passing down firearms may seem straightforward, but it can become legally risky when the weapons fall under federal regulation. Items like silencers, short-barreled rifles, or automatic weapons are classified as National Firearms Act (NFA) items. These require special handling, even during inheritance. A gun trust helps families in Mississippi avoid legal violations by allowing the transfer of such firearms within a legally compliant structure.
Under federal law, only the registered owner may possess an NFA-regulated firearm. If someone inherits one of these weapons without proper documentation, they could face felony charges.
The standard transfer process includes:
However, when a gun trust is used, the trust, and not the individual, owns the firearm. This means co-trustees can legally possess the weapon and pass it along according to the terms of the trust without triggering new transfer violations.
Mississippi does not add extra rules on top of federal gun laws when it comes to inheritance. Still, only eligible individuals can legally receive a firearm. That excludes convicted felons and others restricted under federal guidelines. Even if a family member is listed in a will or trust, they cannot inherit a firearm if they are legally prohibited from owning one.
Gun trusts help families avoid common mistakes during estate transfers. They eliminate the need for probate, which keeps records private and reduces delays. Executors who are unfamiliar with firearms law may unintentionally commit crimes when transferring guns.
A gun trust reduces that risk by naming trustees who understand the rules. It also allows for multiple legal users, so no one unintentionally violates “constructive possession” laws.
If you own firearms or expect to inherit them, it is important to plan. At O’Brien Law Firm, LLC, we help Mississippi clients build clear legal strategies for passing down guns safely. Whether you need help setting up a gun trust or resolving inheritance concerns, contact us today to get started with confidence.
If you’re building a legacy for your family, the last thing you want is for that wealth to get tied up in lawsuits or drained by creditors. In Mississippi, asset protection planning can be folded right into your estate strategy without sacrificing your long-term goals. With the right tools, you can pass down what you’ve built while reducing the risk of someone else taking it away.
Mississippi allows a specific kind of trust called a Qualified Disposition in Trust (QDIT). This irrevocable trust protects assets from most lawsuits and creditor claims.
To work, the trust must include a “spendthrift clause” and be managed by a Mississippi trustee. You’ll also need to prove that you’re solvent when transferring assets and sign an affidavit confirming that you aren’t trying to dodge current debts.
The protection isn’t instant. Creditors have up to two years to file a claim after assets are transferred into the trust. However, once that window passes, those assets are much harder to reach.
Exceptions do exist. These include unpaid child support or certain government claims. However, for most people, this tool adds a strong layer of security.
For business owners and real estate investors, forming a Family Limited Liability Company (LLC) is another smart move. It keeps your personal assets separate from business risks and offers liability protection. Additionally, if the LLC is owned by your trust, the protection is even stronger.
If a creditor wins a judgment against you, they usually can’t touch the company itself. All they may get is a “charging order,” which gives them a share of future distributions but no control or access to the business or its property.
At O’Brien Law Firm, we help clients create estate plans that pass on and protect wealth. Whether you want to shield family property, limit exposure to lawsuits, or pass on a business safely, we’ll show you how these tools work together. Contact us today to start building a plan that keeps your future and your family secure.
Blockchain technology has introduced smart contracts into everything, including finance and real estate. Now, some developers are pitching these automated tools for trust and estate administration.
In theory, a smart contract could distribute assets automatically when a condition is met. No executor, no delay. However, this approach raises serious legal questions. Smart contracts may be fast, but they aren’t built to handle fiduciary duties.
Smart contracts follow code. Once the conditions are triggered, the action, such as sending money or releasing an asset, happens automatically. That sounds efficient, but trust law requires more than speed. Executors and trustees must act in the best interests of beneficiaries, and sometimes, that means delaying payment, withholding funds, or responding to legal disputes.
A smart contract can’t pause for a probate issue or correct an error once it executes. It doesn’t recognize nuance. If someone is named in the trust but later found ineligible, the contract may still run unless the code says otherwise. That can create conflicts between what the contract does and what a human fiduciary is required to do.
Mississippi has made progress in recognizing digital assets. Senate Bill 2632 classifies digital property and allows banks to act as custodians using smart contracts. It also defines “control” over assets through private keys and coded permissions. However, nothing in the law extends that power to smart contracts acting as estate executors or trustees.
That means probate courts are still expecting wills and trusts to follow traditional rules: clear legal intent, human discretion, and oversight when disputes arise. Right now, smart contracts don’t meet those standards.
In 2016, a bug in a smart contract led to $60 million being drained from the DAO (Decentralized Autonomous Organization). That same risk applies to trust administration. If a bug or bad input triggers a payout, there may be no way to get the funds back. There’s also no built-in way to pause a transaction for a court order or tax issue.
At O’Brien Law Firm, we assist Mississippi clients who want to use technology safely in estate planning. We’ll explain what is legally allowed and help you protect the people and assets that matter most.
Managing a trust is not as easy as it sounds. You cannot just set money aside, name a trustee, and let them handle the details. What if the trust includes a family business, multiple investment accounts, or real estate? In such a case, a single trustee is forced to juggle too many responsibilities. This can lead to bad investment decisions, family disputes, or mismanagement.
The solution to this problem is to create a directed trust whereby responsibilities are split among different experts. The financial, legal, and family needs of the trust are thus handled separately.
For instance, in a company, the CEO cannot also be the accountant, HR manager, and sales director. A directed trust works the same way because it assigns roles to the right experts.
When one trustee is in charge of everything, emotions can get in the way, especially when it comes to money matters. If a beneficiary feels shortchanged or disagrees with how assets are handled, it can turn into a legal battle.
In a directed trust, these issues are less likely to occur because decision-making is shared. For example:
Mississippi allows directed trusts under Section 91-8-715 of the state’s Uniform Trust Code. Under this provision, different fiduciaries can be held accountable if they don’t follow their responsibilities. Courts have the power to remove advisors or trustees if they mismanage the trust.
Is a Directed Trust Right for Your Estate?
If your trust includes businesses, investments, or valuable property, a directed trust could be a smarter way to manage assets. To learn more about setting up a directed trust in Mississippi, contact O’Brien Law Firm, LLC, today for guidance.
Caring for a loved one with a disability comes with important financial decisions. While you want to provide for their future, if you give them money directly, you could put their Medicaid or Supplemental Security Income (SSI) at risk. A Special Needs Trust (SNT) helps solve this problem. An SNT allows you to set aside funds for their care without affecting their ability to receive government assistance.
An SNT is a legal arrangement that holds assets for a person with disabilities. Instead of giving money directly to the individual, you place the funds in a trust and let a trustee manage it. With an SNT in place, the money is used for approved expenses and the beneficiary is still eligible for government programs.
Funds in the trust can be used for any of the following:
Choosing the right type of trust depends on where the assets come from.
A well-structured SNT provides long-term financial security. Without one, an inheritance or large gift could make the beneficiary ineligible for Medicaid and SSI. Once that money runs out, they may have trouble requalifying for benefits.
An SNT also protects the beneficiary from mismanaging funds. A trustee oversees spending, ensuring the money is used wisely. This prevents financial abuse or unintentional misuse that could leave the individual without resources.
A Special Needs Trust helps you provide financial support while protecting government benefits. It ensures your loved one has access to medical care, personal services, and quality-of-life improvements. Contact O’Brien Law Firm, LLC, in Southaven, MS, today to learn how an SNT can fit into your estate plan.
